Question
To strengthen compliance by supervised entities (SEs)
RBI is putting a platform called PRISM. What does the “M” stand for in PRISM?Solution
Platform for Regulated Entities for Integrated Supervision and Monitoring (PRISM). The Reserve Bank of India is putting in place a Platform for Regulated Entities for Integrated Supervision and Monitoring (PRISM). It is a web-based end-to-end workflow automation system, to strengthen compliance by supervised entities (SEs) aimed at helping supervised entities to strengthen their internal defences and resilience and bringing focus on root cause analysis (RCA).
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